The extraction of vanadium from the V-Cr-bearing reduced residue formed from the waste water by reduction and neutralization in the process of extracting vanadium from vanadium slag was investigated by selective oxidation combined with alkaline leaching. Vanadium pentoxide is used as the selective oxidant. The effects of leaching temperature, leaching time, solution pH and vanadium pentoxide addition were studied. Under the most suitable conditions including a leaching temperature of 95°C, leaching time of 3 h, solution pH 13.0 and vanadium pentoxide addition of 4.55 wt-%, the leaching of vanadium reached 93.4% and the leaching of chromium was 17.1%.